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CSC 2Q Net Off 15% As Revenue, Margins Weaken; View Mixed

DOW JONES NEWSWIRES CSC's (CSC) second-quarter earnings fell 15% as the information-technology company reported weaker revenue and margins along with sharply higher taxes. It raised its profit target for the year by 5 cents to $5.35 to $5.45 a share but lowered its revenue view to $16.5 billion to $17 billion from $16.8 billion to $17.2 billion. The information-technology services company, which provides services from consumer-credit information to online-data security, has benefited from increased IT outsourcing. For the quarter ended Oct. 1, CSC reported a profit of $184 million, or $1.18 a share, down from $216 million, or $1.40 a share, a year earlier. Revenue decreased 1.6% to $3.98 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.17 on revenue of $4 billion. Gross margin fell to 20% from 20.4%. CSC's managed-services segment, which is its largest by revenue and which mainly covers government contracts, saw revenue edge up 0.1%. Its North American public-sector business reported revenue declined 4.5%. Shares closed Tuesday at $48.79 and were down 1.4% premarket to $48.10. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;

Stock News for Computer Sciences (CSC)
DateTimeHeadline
09/29/201617:14:36Current Report Filing (8-k)
09/20/201608:00:00CSC and Hitachi Data Systems Expand Strategic Alliance to Accelerate...
09/15/201608:30:00CSC Named a Leader in Gartner Magic Quadrant for Data Center...
09/15/201601:05:00CSC: 64 Prozent der deutschen Firmen rechnen mit Brexit-Auswirkungen
09/08/201617:14:00Filing of Certain Prospectuses and Communications in Connection...
09/08/201617:08:47Filing of Certain Prospectuses and Communications in Connection...
09/08/201611:00:00CSC Reports FY 2016 Annual Corporate Responsibility Progress
09/07/201617:00:00HP Enterprise Plans $8.8 Billion Software Deal with Micro Focus
09/02/201616:13:33Statement of Ownership (sc 13g)
09/01/201619:40:00HP Enterprise Seeks Buyer for Software Operations
08/29/201618:30:00UXC Keystone Joins Forces with Fruition Partners and Aspediens...
08/25/201617:08:51Current Report Filing (8-k)
08/17/201608:00:00CSC Wins XCelent Award for New Business and Underwriting for...
08/16/201616:08:47Statement of Changes in Beneficial Ownership (4)
08/16/201616:08:47Statement of Changes in Beneficial Ownership (4)
08/16/201616:08:47Statement of Changes in Beneficial Ownership (4)
08/16/201616:08:19Statement of Changes in Beneficial Ownership (4)
08/16/201616:08:19Statement of Changes in Beneficial Ownership (4)
08/16/201616:08:19Statement of Changes in Beneficial Ownership (4)
08/16/201616:08:19Statement of Changes in Beneficial Ownership (4)

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